An empirical inquiry into marketing Islamic mortgages in the UK

Tameme, Mohammed; Asutay, Mehmet

doi:10.1108/02652321211222531

Cited by 36 publications

(57 citation statements)

References 3 publications

(3 reference statements)

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“…Results of our work provide strong empirical support for the MSI, religious satisfaction index and willingness to consider applying Islamic mortgage framework. Earlier works in Islamic mortgages have largely overlooked this matter (Mydin-Meera and Abdul-Razak, 2009;Osmani and Abdullah, 2010;Tameme and Asutay, 2012). We doubt why these scholars ignore the importance of Maqasid al-Shariah in predicting one's behavioural intention on Islamic mortgage.…”

Section: Conclusion Contribution and Future Studiesmentioning

confidence: 99%

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Theory of Islamic consumer behaviour

Amin

Abdul-Rahman

Razak

2014

Journal of Islamic Marketing

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If you would like to write for this, or any other Emerald publication, then please use our Emerald for Authors service information about how to choose which publication to write for and submission guidelines are available for all. Please visit www.emeraldinsight.com/authors for more information. About Emerald www.emeraldinsight.comEmerald is a global publisher linking research and practice to the benefit of society. The company manages a portfolio of more than 290 journals and over 2,350 books and book series volumes, as well as providing an extensive range of online products and additional customer resources and services.Emerald is both COUNTER 4 and TRANSFER compliant. The organization is a partner of the Committee on Publication Ethics (COPE) and also works with Portico and the LOCKSS initiative for digital archive preservation. AbstractPurpose -The purpose of this study is to propose a theory of Islamic consumer behaviour to explain the factors that influence the Islamic mortgage industry. Although previous works have shown that conventional marketing theories were, to a certain extent, able to predict factors influencing halal marketing and Islamic mortgage, these theories fail to capture or accommodate the Islamic perspectives of consumer behaviour. Conventional marketing theories have also been found to be inadequate to explain the Islamic mortgage preference among consumers. Design/methodology/approach -Drawing upon the Maqasid al-Shariah, this study develops an Maqasid al-Shariah index (MSI) and religious satisfaction (RS) for Islamic mortgage industry in Malaysia. These indexes are developed as the basis of the theory development in this setting. The model developed is later examined using survey data. Findings -This study reveals that education and RS are instrumental in determining the Islamic home financing preference. In contrast, justice and welfare are insignificantly related to the Islamic home financing preference. Religious satisfaction, to a certain extent, plays role not only as a mediator but also as a moderator. We find that RS has a full mediation effect on the relationship between welfare and willingness to consider applying Islamic mortgage. We discover justice is moderated by RS. Education and welfare however are not moderated. Originality/value -This study contributes to the development of an empirical Islamic framework in predicting consumers' behaviour in an Islamic mortgage market using a Maqasid approach. This study is also pioneering in introducing two indexes, notably MSI and RS, and applying these indexes to Islamic home financing context.

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Section: Conclusion Contribution and Future Studiesmentioning

confidence: 99%

“…A recent work by Tameme and Asutay (2012) provides an overview with regard to the Islamic mortgages in the UK. However, there is a paucity of studies that have adequately addressed Islamic mortgage behaviours in the context of UK (e.g.…”

Section: Some Islamic Mortgage Studiesmentioning

confidence: 99%

Theory of Islamic consumer behaviour

Amin

Abdul-Rahman

Razak

2014

Journal of Islamic Marketing

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“…Finally, it will offer diplomatic advantages in dealing with the Muslim dominant and rich nations in the Middle East, especially to attract more lucrative direct investment in the country. Moreover, in the case of many non-Muslim majority countries, the scholars have only focused on some marketing issues as well as on the feasibility and regulatory constraints in marketing Islamic finance (e.g., Opromolla 2012; Petracci and Rammal 2014;Trakic 2012;Hussain 2014;Tameme and Asutay 2012;Mirza and Halabi 2003). Considering the above phenomena, future studies can contribute to the topic by going deeper into the following research questions.…”

Section: Research Questions Related To Other Issuesmentioning

confidence: 99%

Marketing Islamic Financial Services: A Review, Critique, and Agenda for Future Research

Alam

Seifzadeh

2020

JRFM

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Islamic finance has experienced rapid growth globally, surpassing the USD 2 trillion mark in 2017. As a result, the literature related to Islamic finance and banking is rather rich. Despite the richness of the literature, our knowledge of the marketing issues related to Islamic finance is modest and somewhat ambiguous. Therefore, we review several decades of research about the Islamic finance in various parts of the world. We identify and discuss three main research themes that draw on different conceptualization and theoretical lenses. After synthesizing their respective findings, we propose several avenues for future research that integrate these three research themes with the goal of developing a more nuanced understanding of Islamic finance and its marketing. While we believe that our review will mainly serve as a crucial reinvigoration and launch point for future research on Islamic finance marketing, it is also of great practical benefit for policymakers of various countries and especially managers of financial service firms interested in marketing Islamic banking and financial services to their customers.

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“…Gerrard and Cunningham, 1997;Abbas et al, 2003). Importance of Shariah compliance is highlighted as the most important driver of customer satisfaction in Islamic banks (Amin et al, 2013;Jabnoun and Khalifa, 2005;Othman and Owen, 2001;Osman et al 2009;Tameme and Asutay, 2012).…”

Section: Literature Reviewmentioning

confidence: 99%

“…These findings are not surprising as literature provides evidence that most customers deal with Islamic banks because of religious preferences, and having a credible Shariah Advisory Board contributes to customers' trust and satisfaction in the Islamic banking industry (Othman and Owen, 2001;Osman et al, 2009;Tameme and Asutay, 2012;Amin et al, 2013).…”

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confidence: 91%

Customer satisfaction and loyalty in the United Arab Emirates banking industry

Sayani

2015

International Journal of Bank Marketing

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Purpose – The purpose of this paper is to identify the determinants of consumer loyalty in Islamic and conventional banks in the United Arab Emirates (UAE). The study has relevance and importance in a country with a dual banking system. Since the products and services offered by the banks are largely homogenous, customer loyalty is mostly associated with the quality of certain tangible and intangible dimensions of service. It is important for the banks to understand the factors that lead to higher satisfaction and subsequent loyalty among consumers in the context of the UAE. Design/methodology/approach – More than 300 respondents were surveyed to understand the factors that lead to continuing a relationship with Islamic and conventional banks. The data were analyzed using ANOVA and stepwise regression. Findings – The findings of the study indicate that Islamic banks’ customers are satisfied with the Shariah Advisory Board, convenience-related factors such as number of branches, and efficiency-related factors like handling issues on the phone. However, an inverse relationship is found between advice by the personnel and length of association with the bank. On the other hand, the importance of reputation and efficient handling of issues on the phone is highlighted with respect to conventional banks. Research limitations/implications – The study focusses only on consumers that bank either with Islamic or conventional banks and excludes those who deal with both Islamic and conventional banks simultaneously. Practical implications – The research has several managerial implications, as the findings of the study not only highlight the factors that banking consumers value the most in the UAE banking sector, but also provide insight into the factors which need immediate attention. These decisions have strategic and resource-related implications for banks. This knowledge will allow banks to align services with their long-term objectives and invest into resources and capabilities that will provide them competitive advantage. Originality/value – The study allows identification of factors that are valued the most by banking consumers in a culturally and religiously diverse country with a dual banking system.

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An empirical inquiry into marketing Islamic mortgages in the UK

Cited by 36 publications

References 3 publications

Theory of Islamic consumer behaviour

Theory of Islamic consumer behaviour

Marketing Islamic Financial Services: A Review, Critique, and Agenda for Future Research

Customer satisfaction and loyalty in the United Arab Emirates banking industry

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